Texas CBD Licenses Awarded Conditionally…

Texas CBD Licenses Awarded Conditionally to Top Three Scorers

Texas, which signed its Texas Compassionate Use Act on June 1, 2015, has awarded three conditional licenses to cultivate, process and dispense low-THC cannabis to intractable epilepsy patients. Of 43 applicants, one was disqualified for unspecified reasons. Each of the remaining 42 were scored by a review panel with eight Department of Public Safety employees who scored the applications across six categories, including Security (20%), Accountability (20%), Financial Responsibility (10%), Technical and Technological Ability (20%), Infrastructure (20%) and Cover Letter (10%).

The highest ranked applicants included Cansortium Texas, Compassionate Cultivation and Surterra Texas, and they will now undergo onsite inspections. The bill requires that final licensing is complete by September 1st. The state provided a ranking of each of the 42 applicants by score as well as a breakdown of the components contributing to their scores:

Surterra is a name that may be familiar to readers, as it is one of the seven license holders in Florida. Two publicly-traded companies, GB Sciences (OTC: GBLX) and Indoor Harvest (OTC: INQD), which is in the process of merging with Alamo CBD, were among the applicants, with GB Sciences ranking 5th and Alamo CBD 16th. Surprisingly, Columbia Care, which is one of the largest operators of vertically integrated medical cannabis dispensaries in the country, failed to win a license, scoring 6th.

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Based in Houston, Alan leverages his experience as founder of online communities 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email

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